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answer part b please :) Cullumber Industries collected $84,000 from customers in 2022 . Of the amount collected, $20,000 was for services performed in 2021
answer part b please :)
Cullumber Industries collected $84,000 from customers in 2022 . Of the amount collected, $20,000 was for services performed in 2021 In addition, Cullumber performed services worth $32,000 in 2022 , which will not be collected until 2023 Cullumber industries also paid $57,600 for expenses in 2022 . Of the amount paid, $24,000 was for expenses incurred on account in 2021. In addition, Cullumber incurred $33,600 ot expenses in 2022, which will not be paid until 2023. (a) Compute 2022 cash-basis net income. Cash-basis net income $ (b) Compute 2022 accrual-basis net income. Accrual-basis net income Step by Step Solution
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